Malta Retirement Programme
The Malta Retirement Programme offers special tax status to all nationals. The programme gives a 15% flat tax rate on any foreign pension income received in Malta.
As of 2020, if you’re a Non-EU citizen and thinking of retiring in Europe, you are now eligible for this programme.
Why Should You Retire in Malta?
- Fantastic climate with 300 days of sunshine per year
- Stable political, social and economic environment.
- Located strategically with prime international flight and sea connections;
- Rich with culture and history that hides around every corner;
- Malta is home to world-renowned healthcare and educational facilities that are open to all who reside in Malta;
- English speaking environment;
- Low crime rate;
- An appealing tax structure to ensure you get the most out of your pension income.
Are You Eligible for the Malta Retirement Programme?
To be eligible for the Malta Retirement Programme, and subsequently, it’s attractive tax status, you must:
- Receive pension income in Malta. Your pension must constitute at least 75% of your chargeable income;
- Not be in an employment relationship. However, may hold non-executive posts on the board of a Maltese company and partake in certain activities (e.g. philanthropic);
- Hold a “qualified property”. In other words, you can either rent a property for a minimum of €9,600 per annum. On the other hand, you can purchase a residential property for at least €275,000;
- Not be a person who benefits under any of Malta’s other residency programmes. For example, the Individual Investor Programme, Global Residence Programme or the Visa and Residence Programme;
- Receive stable and regular resources which are sufficient to maintain yourself and any dependents without recourse to the social assistance system in Malta;
- Have a valid travel document;
- Be covered by an EU Health Insurance Policy;
- Not based in Malta and does not, within five years from application, intend to establish such residence in Malta;
- Be a fit and proper person with no criminal record. In addtion, a due diligence exercise is carried out by the Maltese Inland Revenue Department before the granting of the special tax status.
Papilio Services are Accredited Agents through Identity Malta
What is the Application Process to Apply for the Malta Retirement Programme?
You can only submit applications for the Malta Retirement Programme through the services of a Maltese Authorised Registered Mandatory. Moreover, Thomas Jacobsen (Managing Director of Papilio Services Limited) is accredited by Identity Malta for all Residency Programmes. Therfore we will ensure you’re supported professionally and expertly throughout your application
A non-refundable application fee of €2,500 is payable to the authorities upon application. Consequently, you will be granted special tax status if you meet all of the conditions.
If your application is accepted, Maltese authorities will tax you at 15% on any income originating outside of Malta, which is received in Malta. However, any income issued in Malta is subject to tax at the standard rate.
You’re required to pay a minimum tax of €7,500 per annum and an additional minimum tax of €500 per dependent and carer.
Papilio Services Limited – Contact Us
Are you are considering the Malta Retirement Programme? Papilio Services can help as we are accredited agents through Identity Malta.